JPMorgan Chase & Co. Has Lowered Expectations for Foot Locker (NYSE:FL) Stock Price

Foot Locker (NYSE:FL - Get Free Report) had its target price decreased by analysts at JPMorgan Chase & Co. from $19.00 to $16.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an "underweight" rating on the athletic footwear retailer's stock. JPMorgan Chase & Co.'s price objective would suggest a potential upside of 34.59% from the stock's current price.

A number of other equities research analysts have also recently issued reports on the company. StockNews.com cut Foot Locker from a "hold" rating to a "sell" rating in a report on Friday, April 11th. Piper Sandler dropped their target price on Foot Locker from $19.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. UBS Group reduced their price objective on shares of Foot Locker from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Barclays set a $24.00 price target on shares of Foot Locker in a research report on Wednesday, March 5th. Finally, Evercore ISI lowered their target price on Foot Locker from $22.00 to $15.00 and set an "outperform" rating for the company in a report on Friday, April 11th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $21.69.

Foot Locker Stock Performance

Shares of FL stock traded up $0.77 during mid-day trading on Monday, reaching $11.89. The stock had a trading volume of 4,570,953 shares, compared to its average volume of 3,447,216. The firm's 50 day simple moving average is $15.68 and its 200 day simple moving average is $20.07. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The firm has a market cap of $1.13 billion, a PE ratio of -2.64, a P/E/G ratio of 0.53 and a beta of 1.41. Foot Locker has a one year low of $11.00 and a one year high of $33.94.

Foot Locker (NYSE:FL - Get Free Report) last released its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.13. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The company's quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. On average, analysts forecast that Foot Locker will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Foot Locker

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. increased its stake in shares of Foot Locker by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer's stock worth $190,000 after buying an additional 562 shares during the period. Harbour Investments Inc. boosted its position in shares of Foot Locker by 81.6% in the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer's stock worth $31,000 after purchasing an additional 648 shares in the last quarter. Foundry Partners LLC raised its holdings in Foot Locker by 8.8% in the fourth quarter. Foundry Partners LLC now owns 12,784 shares of the athletic footwear retailer's stock worth $278,000 after buying an additional 1,031 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Foot Locker during the fourth quarter valued at $32,000. Finally, GAMMA Investing LLC raised its stake in Foot Locker by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock valued at $35,000 after buying an additional 1,764 shares during the last quarter.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.